In this article, you will be informed regarding the Post Office Fixed Deposit Scheme. This is an investment opportunity where you can deposit a lump sum amount and earn good returns. Hence, it ensures the safety of your money along with the very good return associated with it. Opening a fixed deposit account in the post office is more advantageous than in banks.
Post Office FD Scheme
You can deposit funds in the Post Office FD Scheme for 1, 2, 3, and 5 years according to your needs, and this deposit gets different interest rates, depending on the time. Of course, this interest is favorable to that of the banks. Currently, the Post Office is giving 7.5% on money deposited for five years under the post office fixed deposit scheme. Let us know everything about it if you are also thinking about investing here.
This much interest will be available for other periods
FD scheme is applicable only for Indian citizens, and any nearest post office branch can be visited to open it. The current interest rates in Post Office FD are under different terms of deposit.
- 1 Year: 6.9% within the interest period.
- 7% interest rate is related to terms of 2 years to 3 years.
- 7.5% interest on deposits for 5-year terms.
Start investing with Rs 1000
It is the most appropriate mode of investment now when a person has saved some of his money from his earnings and wants to invest. In which he gets guaranteed return as well as a good interest rate. You can invest as low as Rs 1,000 and there is no upper limit to what you can invest. Let’s find out how much return can be received on an investment of 2.5 lakhs in this fixed deposit scheme.
Deposit funds like this
Rs.2.5 lakh will be deposited lump sum in an FD account for five years. The post office is giving an interest rate of 7.5% for five years. If you calculate, after 5 years, you will get a grace total sum of respect Rs 3,62,487 from the post office FD.
Out of this (Post Office FD Scheme) the deposit amount is Rs 2.5 Lac and the benefit will be Rs 1,12,487 by way of interest. Such increase in investment is not only safeguarding your own capital but also providing a good profit. The deposit amount goes higher the return.
